Tip 96: Can we change this a little bit?
Be prepared for requests from the buyer to modify parts of the contract. Don’t verbally agree to anything until your lawyer confirms that the requested changes are in order.
This part of the exercise may take longer than you expected. Lawyers are shrewd creatures and will make every attemptto modify to get the most for their clients. They’re only doing their job, and they’re doing what they’re best at – arguing and haggling.
It is up to your lawyer to defend your interests so hopefully, the lawyer you hired is as sharp and shrewd as your buyer’s lawyer.
When contract discussions are going on, ask your lawyer’s opinion as to the advantages and disadvantages of agreeing or disagreeing with a particular clause. Discuss potential consequences and how changing a clause could jeopardize your rights as a seller.
And if you do agree to change a clause, ensure that all changes are put in writing either within the body of the contract or as an addendum.
This part of the exercise may take longer than you expected. Lawyers are shrewd creatures and will make every attemptto modify to get the most for their clients. They’re only doing their job, and they’re doing what they’re best at – arguing and haggling.
It is up to your lawyer to defend your interests so hopefully, the lawyer you hired is as sharp and shrewd as your buyer’s lawyer.
When contract discussions are going on, ask your lawyer’s opinion as to the advantages and disadvantages of agreeing or disagreeing with a particular clause. Discuss potential consequences and how changing a clause could jeopardize your rights as a seller.
And if you do agree to change a clause, ensure that all changes are put in writing either within the body of the contract or as an addendum.
posted by Nadim at 5:20 AM
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